Question

_____ normally is the first asset listed on a balance sheet.
Answer
a. Accounts receivable
b. Equipment
c. Inventory
d. Cash

Answer 1

D. CASH normally is the first asset listed on a balance sheet.

The assets are listed according to its liquidity. They are divided into two groups - current assets and non-current or long term assets.

Current assets include cash, accounts receivable, inventory, prepaid assets.

Non-current assets include notes receivable (longer than 1 year), equipment, land, and buildings.